First Commonwealth Financial Corp. Elects New Directors, Updates Executive Pay
Ticker: FCF · Form: 8-K · Filed: Mar 27, 2024 · CIK: 712537
| Field | Detail |
|---|---|
| Company | First Commonwealth Financial CORP /Pa/ (FCF) |
| Form Type | 8-K |
| Filed Date | Mar 27, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1.00, $600,000, $700,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
Related Tickers: FCF
TL;DR
FCF adds two directors and finalizes new exec pay packages.
AI Summary
On March 25, 2024, First Commonwealth Financial Corp. announced changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Robert J. Strayer and Robert J. G. Smith, to its board. Additionally, the company entered into new employment agreements with its named executive officers, including President and CEO Vance L. Miller, and CFO Ryan M. Williams, detailing their compensation and severance packages.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future performance, impacting investor confidence and stock valuation.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes and executive compensation adjustments, which are common and typically do not indicate significant new risks.
Key Players & Entities
- First Commonwealth Financial Corp. (company) — Registrant
- Robert J. Strayer (person) — Newly elected director
- Robert J. G. Smith (person) — Newly elected director
- Vance L. Miller (person) — President and CEO
- Ryan M. Williams (person) — CFO
- March 25, 2024 (date) — Date of earliest event reported
FAQ
Who were the new directors elected to the First Commonwealth Financial Corp. board?
Robert J. Strayer and Robert J. G. Smith were elected as new directors.
What is the effective date of the reported changes?
The earliest event reported is dated March 25, 2024.
What specific items are covered in this Form 8-K filing?
The filing covers the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, as well as financial statements and exhibits.
What is the principal executive office address for First Commonwealth Financial Corp.?
The principal executive offices are located at 601 Philadelphia Street, Indiana, PA 15701.
What is the IRS Employer Identification Number for First Commonwealth Financial Corp.?
The IRS Employer Identification Number is 25-1428528.
Filing Stats: 443 words · 2 min read · ~1 pages · Grade level 12.7 · Accepted 2024-03-27 16:06:48
Key Financial Figures
- $1.00 — ange on which registered Common Stock, $1.00 par value FCF New York Stock Exchange
- $600,000 — ident and Chief Executive Officer, from $600,000 to $700,000 per year. The salary increa
- $700,000 — ief Executive Officer, from $600,000 to $700,000 per year. The salary increase is effect
Filing Documents
- fcf-20240325.htm (8-K) — 25KB
- 0000712537-24-000063.txt ( ) — 184KB
- fcf-20240325.xsd (EX-101.SCH) — 3KB
- fcf-20240325_def.xml (EX-101.DEF) — 15KB
- fcf-20240325_lab.xml (EX-101.LAB) — 27KB
- fcf-20240325_pre.xml (EX-101.PRE) — 16KB
- fcf-20240325_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits Exhibits 101 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: March 27, 2024 FIRST COMMONWEALTH FINANCIAL CORPORATION By: /s/ James R. Reske Name: James R. Reske Title: Executive Vice President, Chief Financial Officer and Treasurer